Crescent's initiative to contain Greenhouse gas

Dubai Multi Commodities Centre (DMCC) and EcoSecurities signed a strategic alliance agreement in January 2008 with Crescent Petroleum and Dana Gas PJSC to jointly develop emissions reduction projects in the oil and gas sector, under the Kyoto Protocol's Clean Development Mechanism (CDM).

Under the terms of the agreement, Crescent Petroleum and Dana Gas will identify projects across their regional oil and gas operations to reduce greenhouse gas emissions and improve energy efficiency. EcoSecurities and DMCC will facilitate the development of the CDM component of these projects, and create value by trading the Certified Emissions Reduction (CERs) credits thus generated.

In addition, DMCC and EcoSecurities will collaborate with Crescent Petroleum and Dana Gas to jointly identify opportunities to work with other energy companies and governments throughout the region, to reduce their greenhouse gas emissions